EVERYTHING ABOUT FOREX
A market trend is a tendency of financial markets to move in a particular direction over time. All trends fall under one of the following three categories: upward trend, downward trend, sideways trend.
The Dow Theory says that major market trends are composed of three phase: Primary for long time frames, secondary for medium time frames, and minor for short time frames. The "main movement", primary movement or major trend may last from less than a year to several years. The "medium swing", secondary reaction or intermediate reaction may last from ten days to three months and generally retraces from 33% to 66% of the primary price change. The "short swing" or minor movement varies with opinion from hours to a month or more.
The Dow Theory says that major market trends are composed of three phase
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